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Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> urged CEOs of US majors to take advantage of India's growth story as the country is making all efforts to become the third largest economy of the world in his third term. India is currently the fifth largest economy of the world after the US, China, Germany and Japan with a GDP of around USD 3.9 trillion. India has been the fastest growing large economies of the world with GDP growth rate of over 7 per cent for the last three consecutive years. Addressing CEOs of the large US tech firms on Sunday, Modi said India will make every effort to become the third largest economy in the world in his third term (2024-29). Companies should take advantage of India's growth story for collaboration and innovation by co-developing, co-designing, and co-producing in India for the world, harnessing the opportunities from the country's economic and technological growth, he said. Assuring the business leaders of India's deep commitment to the protection of intellectual property and to fostering tech innovation, Modi highlighted the economic transformation happening in the country, particularly in electronics and information technology manufacturing and semiconductors. Modi asserted that his government was committed to making India a "global hub of <keyword id="20073013" type="General" weightage="20" keywordseo="semiconductor-manufacturing" source="keywords">semiconductor manufacturing</keyword>". The meeting took place at the Lotte <keyword id="19904497" type="General" weightage="20" keywordseo="New-York" source="keywords">New York</keyword> Palace Hotel on Sunday during the second leg of Modi's three-day US visit. It saw the participation of CEOs of 15 major US-based firms working on cutting-edge technologies such as AI, quantum computing and semiconductors. "Had a fruitful roundtable with tech CEOs in New York, discussing aspects relating to technology, innovation and more. Also highlighted the strides made by India in this field. I am glad to see immense optimism towards India," Modi said in a post on X. During the conference, Modi said technology collaboration and efforts such as the Initiative on Critical and Emerging Technologies (ICET) lie at the core of the India-US Comprehensive Global Strategic Partnership, according to a Ministry of External Affairs press release. Organised by the Massachusetts Institute of Technology (MIT) School of Engineering, the CEOs of top US tech firms, including Google CEO Sundar Pichai, Adobe CEO Shantanu Narayena, Accenture CEO Julie Sweet and NVIDIA CEO Jensen Huang attended the meeting. Others who participated in the roundtable included AMD CEO Lisa Su, HP Inc. CEO Enrique Lores, IBM CEO Arvind Krishna, Dr Noubar Afeyan, Chairman of Moderna, and Verizon CEO Hans Vestberg. Modi also talked about India's BIO E3 (biotechnology for environment, economy and employment) policy to develop the country into a biotech powerhouse and on the topic of AI, noted that India's policy is to promote AI for all, underpinned by its ethical and responsible use. The CEOs appreciated India's growing prominence as a global technology hub, driven by its innovation-friendly policies and flourishing market opportunities. They also expressed strong interest in investing and collaborating with India, agreeing that investing in startups would be a synergistic opportunity to innovate and develop newer technologies in the country. Others who attended the conference included Biogen Inc CEO Chris Viehbacher, CEO of Bristol Myers Squibb, Chris Boerner, Eli Lilly and Company CEO David A. Ricks, LAM Research CEO Tim Archer, GlobalFoundries CEO Thomas Caulfield, and the CEO of Kyndryl, Martin Schroeter. "Further cementing technology and business connect. PM @narendramodi interacted with the top tech leaders and CEOs of USA, in a Roundtable hosted by the Massachusetts Institute of Technology School of Engineering, in New York today. PM emphasised India's growth prospects and discussed initiatives to foster collaborations and innovation across diverse sectors," the official account of the MEA said in a post on X. The prime minister had a separate meeting with Krishna P Singh, CEO of Holtec International, which is into nuclear and solar power generation. They discussed Holtec's plan for expanding manufacturing in India and advancing energy cooperation, PMO India said in a post on X. Earlier on Sunday, Modi addressed the <keyword id="20115166" type="General" weightage="20" keywordseo="Indian-diaspora" source="keywords">Indian diaspora</keyword> at the packed Nassau Veterans Coliseum on Long Island in New York. He also held bilateral meetings with world leaders at the sidelines of the UN General Assembly session here. Modi reached New York on Saturday after attending the Quad Leaders' Summit hosted by President Joe Biden in Wilmington, Delaware. <div type="Article" hostid="261" msid="113516805" title="Why is Indian Prime Minister Narendra Modi visiting the US this weekend?" mstype="2" mssubtype="0"></div>

PM Modi invites US CEOs to take a 'byte' out of India's growing technology sector

Amid mass <keyword id="6357067" type="General" weightage="20" keywordseo="layoffs" source="Orion">layoffs</keyword> in the tech sector, the <keyword id="368921" type="General" weightage="20" keywordseo="us-citizenship-and-immigration-services" source="Orion">US Citizenship and Immigration Services</keyword> (USCIS) has said it is wrong to assume that fired workers holding H-1B visa has to leave the country within 60 days and that they have multiple options to stay. In a letter to the <keyword id="1073798" type="General" weightage="20" keywordseo="Foundation-for-India-and-Indian-Diaspora-Studies" source="Orion">Foundation for India and Indian Diaspora Studies</keyword>, USCIS Director Ur M Jaddou said, "When non-immigrant workers are laid off, they may not be aware of their options and may, in some instances, wrongly assume that they have no option but to leave the country within 60 days." The Foundation for India and Indian Diaspora Studies(FIIDS), which has been working for laid-off H-1B visa holders, had recently written to USCIS about the impacts of recent technology sector layoffs and sought an increase to the up to 60-day grace period. In the letter addressed to FIIDS director for policy and analysis strategy Khanderao Kand, the USCIS said it acknowledges the financial and emotional impact that job loss can have on employment-based non-immigrant workers and their families in the United States. "We are aware of the issue of involuntary terminations, especially in the technology sector," it said. When a non-immigrant worker's employment is terminated, either voluntarily or involuntarily, they typically may take one of the four actions, if eligible, to remain in a period of authorized stay in the United States, the USCIS said, Prominent among these include filing an application for a change of non-immigrant status and filing an application for adjustment of status. They can also file an application for a "compelling circumstances" employment authorization document or be the beneficiary of a nonfrivolous petition to change employer, the USCIS said. "If one of these actions occurs within the up to 60-day grace period, the nonimmigrant's period of authorized stay in the United States can exceed 60 days, even if they lose their previous non-immigrant status. "If the worker takes no action within the grace period, they and their dependents may then need to depart the United States within 60 days, or when their authorized validity period ends, whichever is shorter," the USCIS said in its letter. It said that because the up to 60-day grace period is codified in the Department of Homeland Security regulations, extending it would require a regulatory change in compliance with the Administrative Procedure Act and could not be extended by USCIS through policy guidance. Fortunately, most individuals facing job loss already have several options to remain in the United States while continuing their job search past 60 days, the USCIS wrote. It said it recognizes the contributions made to the United States by talented foreign-born workers, including in the STEM (science, technology, engineering and mathematics) fields. "We will continue to monitor the technology sector layoffs and explore appropriate measures," Jaddou said. In a statement, FIIDS director for policy and analysis strategy Khanderao Kand said departing the US after layoffs has an immediate impact on the families of the laid-off H1B and their school-going children. "Losing these professionals is also a brain drain impacting the future competitiveness of the US in emerging technologies. Hence, FIIDS has launched a multi-phase campaign from awareness building to jointly written letters to the USCIS with elected officials and other prominent organizations," the statement said. FIIDS launched a media campaign in January to raise awareness about the issue. In February, it launched a petition which received support from various prominent organizations like the US-India Strategic Partnership Forum, US-India Business Council, American Jewish Committee, and The Indus Entrepreneurs seeking an extension of the grace period. "We appreciate the USCIS for clearly providing options for the laid-off H1Bs. These official communications will improve the possibility for the H1B holders to remain legally in the US. We will still work with the DHS to change the grace period," Kand said. House of Representatives members Zoe Lofgren and Anna Eshoo, in their letter to USCIS, termed the departure of STEM professionals from the US a national security threat. Congressman Raja Krishnamoorthi said that if retained, these laid-off professionals can develop innovative products and potentially start new businesses and create new jobs while advancing research across critical industries. Recently, Senator Chuck Schumer told an Indian American audience that the issue can be addressed with a procedure change. The "White House Initiative on Asian Americans, Native Hawaiians, and Pacific Islanders" under the Health and Human Services Department also recommended an extension of the H-1B grace period. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/two-multibagger-stocks-under-nifty500-doubled-investors-money-in-last-six-months/slidelist/99049670.cms">Two multibagger stocks under Nifty500 doubled investors money in last six months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/a-fifth-of-indians-feel-sleepy-at-work-future-worries-keep-em-awake/slidelist/99038158.cms">A fifth of Indians feel sleepy at work, future worries keep ‘em awake</a>

Fired H1B visa holders have 'multiple options', wrong to assume they have to leave in 60 days: USCIS director

Underlining the contribution of non-resident Indians, Union Finance Minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> on Tuesday said <keyword id="6369957" type="General" weightage="20" keywordseo="remittances" source="Orion">remittances</keyword> sent to the country by overseas Indians were about USD 100 billion for the year 2022, an increase of 12 per cent in one year. Speaking at a session during the <keyword id="70478" type="General" weightage="20" keywordseo="Pravasi-Bharatiya-Divas" source="Orion">Pravasi Bharatiya Divas</keyword> (PBD) convention in Madhya Pradesh's Indore city, she described NRIs as the "real ambassadors of India" and appealed to them to use made in India products and services as far as possible so that the country's individual brand can be promoted across the globe. Sitharaman also said that after the "China plus one" policy, the world is now talking about the "European Union (EU) plus one" policy. The government is strongly presenting India to multinational companies as a country where they can set up their factories apart from China and the EU, she said. Sitharaman said the <keyword id="6402673" type="General" weightage="20" keywordseo="Indian-diaspora" source="Orion">Indian diaspora</keyword> should also partner with small and big businessmen of the country so that the entrepreneurial skills of NRIs can be harnessed in the next 25 years during the 'Amrit Kaal' of independence. "I recognise that remittances, which come from abroad by Indians who migrated, are about 100 billion US dollars for the year 2022. This is one of the highest remittances which is coming," the finance minister said. This has gone up by 12 per cent if compared to 2021, she said. "Within a year which was post-pandemic, people thought Indian workers will not go back abroad again, they have not only gone back but more have gone for very useful employment and the remittance numbers have gone up by 12 pc within one year," she said. Citing the dominance of Indian professionals in information technology, digital technology, automobiles, semiconductor designing, pharmaceutical manufacturing and other fields, she said the country is becoming a global hub of knowledge and progress. "In the Amrit Kaal of independence, an aspirational India will focus on four "I" which include <keyword id="17408" type="General" weightage="20" keywordseo="infrastructure" source="Orion">infrastructure</keyword>, <keyword id="6355120" type="General" weightage="20" keywordseo="investment" source="Orion">investment</keyword>, innovation and inclusion," she said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-gains-57-paise-to-close-at-81-78-against-us-dollar/articleshow/96884168.cms">Rupee gains 57 paise to close at 81.78 against US dollar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-tata-motors-paytm-among-stocks-in-focus-on-tuesday/articleshow/96870156.cms">Sensex sheds 632 points, Nifty50 falls 187 points as PSU bank, financial services and IT stocks drag</a>

Remittances from overseas Indians increased by 12% $100 billion in 2022: Sitharaman

A total of six murders, including that of an eight-month-old infant, within a week's time, begs an answer to the question every Indian wants to know - is the community safe in the US? The US is home to more than 4.5 million Indians, which is the highest-earning ethnic group in the country. President <keyword id="99719" type="General" weightage="80" keywordseo="joe-biden" source="Orion">Joe Biden</keyword> recently went on record to say: "It's amazing, Indian - of descent - Americans are taking over the country: you, my Vice President (<keyword id="180909" type="General" weightage="20" keywordseo="kamala-harris" source="Orion">Kamala Harris</keyword>), my speechwriter, Vinay (Vinay Reddy)... You guys are incredible!" Even as one grappled with the shock of four Sikh family members, within the age groups of eight months to 39 years, found dead in California, news of 20-year-old student Varun Manish Chheda stabbed to death on Purdue University campus, sent shockwaves running across the Indian community world over. Earlier this week, Gurpreet Kaur Dosanjh, a Walmart employee, was shot dead and lumped inside a car in a parking lot in San Jose, California. In June this year, Satnam Singh, 31, was shot dead while sitting in a parked SUV down the street from his home in New York. This came days after Sai Charan Nakka, a 25-year-old techie from Telangana, was killed after sustaining an apparent gunshot wound to his head in Maryland Apart from the gruesome killings, Indian Americans have been consistently battling racial taunts, assaults, hate crime robberies, and vandalism of their properties. According to the Federal Bureau of Investigation (FBI), 161 anti-Asian <keyword id="6463069" type="General" weightage="20" keywordseo="hate-crimes" source="Orion">hate crimes</keyword> took place in 2019, which rose to 279 in 2020. Giving a religious break-up, the FBI said that 54 anti-Sikh crimes occurred in 2019, which rose to 89 in 2020. Anti-Asian hate crime increased by 339 per cent last year compared to the year before, with New York, San Francisco, Los Angeles, and other cities surpassing their record numbers in 2020, according to research by the Center for the Study of Hate and Extremism. Late in August, four Indian American women were told that they were "ruining" America and should "go back to India" by a Mexican-American woman in Texas. In the same month, Krishnan Jayaraman was racially abused and called a "disgusting Hindu" by Californian Rajinder Singh in a Taco Bell outlet in Fremont. Community members have also expressed concerns over multiple brazen attacks on Mahatma Gandhi's statue in New York and other US cities. "Such bigoted attacks motivated by <keyword id="44060" type="General" weightage="20" keywordseo="racism" source="Orion">racism</keyword>, xenophobia, and other forms of hate victimise not only those directly targeted by them but also broader communities through creating an atmosphere of fear and danger," Indian-American Congressman Raja Krishnamoorthi had said recently. Last month, Indian-Americans held a peaceful protest at Time Square against the recent spurt in hate crimes and instances of vandalism of the Gandhi statue in the city. An Indian American Attitudes Survey released last year found that "one in two Indian-Americans reports being discriminated against in the past one year, with discrimination based on skin colour identified as the most common form of bias". Somewhat surprisingly, Indian-Americans born in the US are much more likely to report being victims of discrimination than their foreign-born counterparts," the survey, supported by Carnegie Endowment, said. Biden had spoken strongly against hate crimes at a recent event against racism. It remains to be seen what Biden, who boasts of having appointed more than 130 Indian-Americans to key positions in his administration so far, does now for the community that has made significant contributions to this great landscape. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/threats-to-mukesh-ambanis-family-one-held-from-bihar/articleshow/94676568.cms">Threats to Mukesh Ambani's family: one held from Bihar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/will-consider-kerala-govt-proposal-for-world-peace-conference-nobel-peace-centre/articleshow/94671685.cms">Will consider Kerala govt proposal for World Peace Conference: Nobel Peace Centre</a>

Half a dozen murders in a week send shockwaves across Indian community in US

<ul><li>Earlier, it was reported that the company had planned to charge users $19.99 per month for verification.</li><li>Musk further mentioned the additional benefits that the users will get with the new <keyword id="11265742" type="General" weightage="80" keywordseo="twitter-blue" source="Orion">Twitter Blue</keyword> plan. </li></ul> Twitter boss <keyword id="6355315" type="General" weightage="80" keywordseo="elon-musk" source="Orion">Elon Musk</keyword> has announced that users can get their accounts verified with the new <keyword id="6380502" type="General" weightage="100" keywordseo="blue" source="Orion">Blue</keyword> plan at a price of $8. "Twitter's current lords and peasants system for who has or doesn't have a blue checkmark is b******t," he said in a tweet. "Power to the people! Blue for $8 per month". The world's richest man also said that the "price adjusted by country proportionate to purchasing power parity". Musk further mentioned the additional benefits that the users will get with the new Twitter Blue plan including, "priority in replies, mentions and search, ability to post long video and audio, half as many advertisements". Earlier, it was reported that the company had planned to charge users $19.99 per month for verification. According to the report, Twitter Blue, the company's $4.99 per month optional subscription that unlocked additional features would convert into a more expensive subscription that would also verify users. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/diaspora-group-launches-online-petition-urging-blinken-to-reduce-visa-wait-time/articleshow/95243720.cms">Diaspora group launches online petition urging Blinken to reduce visa wait time</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/hiring-slowed-down-in-the-it-sector-this-festive-season-report/articleshow/95233811.cms">Hiring slowed down in the IT sector this festive season: Report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/reliance-retail-signs-up-indian-cricketer-hardik-pandya-as-brand-ambassador-for-new-athleisure-brand-xlerate/articleshow/95233225.cms">Reliance Retail signs up Indian cricketer Hardik Pandya as brand ambassador for new athleisure brand Xlerate</a>

Pay $8 to get blue tick on Twitter: Elon Musk

A US-based diaspora body on Tuesday launched an online petition campaign urging the Secretary of State Anthony <keyword id="10620101" type="General" weightage="20" keywordseo="blinken" source="Orion">Blinken</keyword> to reduce the long waitlist for various types of American visas being issued from <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. "We request the State Department, Secretary of State Mr Anthony Blinken and the US embassies in India to eliminate wait times for <keyword id="6359421" type="General" weightage="20" keywordseo="visa" source="Orion">visa</keyword> appointments in India. "Even after a two-year-long Covid-era pause in visa appointments at the US embassies in India, the visa appointment situation is far from normal, requiring 300 to 900 days of wait time based on the visa types," Foundation for India and Indian Diaspora Studies or FIIDS said launching its online petition campaign. As per travel.state.gov reports on October 31, there is an average 900+ days' wait time for appointments for visitors' visa (B1/B2), an average 400 days' wait time for students (F, M,J) and an average 300 days' wait time for petition-based temp workers like H, L, O, P and Q across the USA consulates in India (Mumbai, New Delhi, Hyderabad, Chennai and Kolkata), it said. In contrast, the US consulates in China only have an average three days' wait time, FIIDS said. "The 900+ days' delay deprives Indian Americans and Indian immigrants in the USA of having their beloved relatives to visit, whether in the time of difficulties, needs, or for celebrations, impacting their quality of life," it said. "The 400+ days' wait time affects students joining the US universities, that not only impacts students' future but also negatively impacts the US universities," FIIDS said, adding, the 300+ days' wait time is impacting productivity and success of various industries and businesses due to lack of skilled workers. "We urge the US State Department and Sec Blinken to resolve this issue. We believe it is not only important for US interests but the right thing to do on moral and compassionate grounds," FIIDS said in its petition on Change.Org. "As per Reuters news on 27th Sept, the Secretary of State blamed the lack of resources and funding due to lost revenues from fees on this 'self-financed program,'" the petition said. "We request the concerned authorities to take all necessary steps and to seek emergency funds to resolve this backlog. We are eager to assist in any way possible and will forge a coalition of individuals who will rise to the occasion to assist in mitigating this issue," it added. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/elon-musk-fired-twitter-execs-including-ceo-parag-agrawal-for-cause-in-a-bid-to-avoid-paying-out-tens-of-millions-in-severance-report-says/articleshow/95182325.cms">Elon Musk fired Twitter execs including CEO Parag Agrawal 'for cause' in a bid to avoid paying out tens of millions in severance, report says</a> <a href="https://www.businessinsider.in/tech/news/twitter-staff-have-been-told-to-work-84-hour-weeks-and-managers-slept-at-the-office-over-the-weekend-as-they-scramble-to-meet-elon-musks-tight-deadlines-reports-say/articleshow/95232215.cms">Twitter staff have been told to work 84-hour weeks and managers slept at the office over the weekend as they scramble to meet Elon Musk's tight deadlines, reports say</a>

Diaspora group launches online petition urging Blinken to reduce visa wait time

<ul><li>In 2023, <keyword id="6362656" type="General" weightage="20" keywordseo="apartment" source="Orion">apartment</keyword> prices in <keyword id="6354539" type="General" weightage="20" keywordseo="dubai" source="Orion">Dubai</keyword> rose by approximately 18% and villa prices by about 22% </li><li>Dubai also has no capital gain tax, which makes investing in <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> a compelling proposition. </li><li>Rental yields, robust capital appreciation, and the stability of the Emirati Dirham (AED) are other reasons cited for <keyword id="6355120" type="General" weightage="20" keywordseo="investment" source="Orion">investment</keyword>. </li></ul>After the COVID pandemic got over, the real estate market has been going from strength to strength with affluent Indians also looking outside the country to make investments. Sample this – as per a report by ANAROCK, in 2022, Indians accounted for about 40% of all home-buying deals, with a total investment of ₹35,000 crore, nearly doubling the investment from 2021. Now, according to the Betterhomes <keyword id="6393792" type="General" weightage="20" keywordseo="residential" source="Orion">Residential</keyword> Market Report 2023, Indians have emerged as the leading investors in Dubai's real estate market, surpassing Britons in the third quarter of 2023. In the first six months of the year gone by, Indian investors pumped approximately $335 million into the Dubai real estate sector. The Dubai real estate market has experienced robust growth in terms of price appreciation and rental yields. “In 2023, apartment prices rose by approximately 18.3%, and villa prices by about 22.2%. The market is expected to continue this trend in 2024, with short-term rentals projected to jump by around 20% and long-term rentals by 15% compared to 2023,” says Morgan Owen, managing director, Middle East and North Africa, ANAROCK Group, a real estate services company. Growth potential The Dubai real estate market is projected to grow by about 15% in 2024, driven by a robust economy and foreign investor interest. “Dubai real estate has been very volatile over the last few years, but the last two to two and a half years has been a golden period. You have a market where you are seeing a boom,” says Sanjay Guha, Founder and CEO, Acquist, a real estate advisory firm. Golden visa and tax benefit Given its proximity to India and a sizable Indian diaspora of over 3.5 million residing in Dubai, the city has long been perceived as a second home for many Indians. “The attractive aspects of investing in Dubai include impressive rental yields, robust capital appreciation, and the stability of the Emirati Dirham (AED) being pegged to the US Dollar,” says Akash Puri, director, international, India Sotheby's International Realty. Puri adds that Dubai's "Golden Visa" initiative has also garnered significant attention from Indian investors. Acquiring property stands as the simplest way of investing and securing a Golden Visa. If your purpose of investment is to get a Golden Visa, then you need to buy a property worth at least 2 million dirhams in Dubai. This will grant you a Golden Visa for 5 years, renewable on the same conditions. “It must be noted that Dubai also has no capital gain tax, which makes investing in real estate a compelling proposition. Ease of doing business and a tax-friendly environment are a big plus,” says Puri. “What is happening is that you have an option to invest in Dubai from ₹2 to ₹2.5 crore. If you look at Mumbai, you cannot buy anything at this price in a place like South Mumbai,” says Guha. Why the HNI are investing According to Guha, a lot of HNIs invest in Dubai to de-risk their portfolio. Their primary investments remain in the Indian rupee, but they can have alternate asset classes in dollar terms, since the Dirham is pegged to the dollar. “Dubai offers rental yields of 4% to 7% annually, with no taxes on property rental income and capital gains, increasing the profitability of investments,” says Owen. There is also another advantage of investing in a Dubai property. “In Dubai, you can buy the flat, put the flat on rent, get the money in your account, pay any required taxes sitting at your home in India or anywhere in the world, it is that easy and professionally managed,” says Guha. How to invest in a property in Dubai? The Liberalised Remittance Scheme (LRS), a program implemented by the Reserve Bank of India (RBI) allows resident individuals in India to freely remit up to $250,000 per financial year (April 1st to March 31st) for any permissible current or capital account transaction or a combination of both. That is about ₹2 crore. Let us say a family is buying a property worth ₹8 crore in Dubai. Each of them can remit a maximum of ₹2 crore approximately in one financial year ending March. According to Guha, the payments to be made for a property can be done in such a way that half the payment is made at the end of a financial year and the other half is made in the next financial year. When done at the end of March this would mean only a few days gap in between, thus utilising limits for both financial years for both individuals. What to keep in mind Before investing in a Dubai property, it's crucial to conduct thorough research on the market trends and dynamics. Understanding the legal aspects related to property ownership in Dubai is paramount to ensure a smooth and compliant investment process. “When planning to buy a property in Dubai, the initial step is to clearly define the end goal: whether the purchase is for investment purposes or personal use. This clarity guides the selection process along with comprehensive market research and engaging a reputable agency which will further be invaluable in navigating the process,” says Puri. Additionally, considering the location and the reputation of the developer can significantly impact the property's long-term value.

The Indian rich is buying property in Dubai – Tax benefits to rental yields, the driving forces at play

By Aditi Khanna London, Apr 14 () Over a hundred Indian diaspora organisations here have united to issue an open letter of solidarity with India and urged their compatriots caught up in the current lockdown to show patience to curb the spread of coronavirus pandemic in the country.The 107 organisations, including charities, local temple associations and state-wise representative bodies, lauded the Indian government's efforts during the outbreak as well as worldwide efforts to save precious lives during the pandemic. The letter came as Prime Minister Narendra Modi addressed the nation on Tuesday to further extend the lockdown in India till May 3. "We would especially like to commend the mammoth efforts of the Indian government and states working under the able leadership of Prime Minister Shri Narendra Modi for the wide ranging and timely measures to address this issue and to alleviate the inevitable hardship that they will endure during this time of lockdown," the letter stated."We salute the citizens of India for their fortitude, patience, disciple, and social consciousness at this testing time. We appeal to you all, sisters and brothers to continue to keep trust, keep strong and follow the continued advice and guidance of Prime Minister Narendra Modi during these testing times," it added.The Indian High Commission in London, which has been fielding hundreds of queries on a daily basis from Indian nationals stranded in the UK, also reached out to them with a message of reassurance this week."Dear Indians in UK. We are an email or phone call away and committed to find ways to help you while you are in the UK. The Indian diaspora in UK is also making efforts to do so. Have faith, be positive and stay safe," it said.Its social media pages were instantly flooded with queries regarding international flights after the Indian government's lockdown extension announcement on Tuesday."There are many students stuck in the UK, including myself, who couldn't return to India before March 18 and are stuck here. In these trying times, we really want to go home. Please help," read one plea."Can we get a clarity on when the flight operations will resume?" asked another.There are thousands of Indians stranded in different parts of the UK, with hundreds of students among the worst-hit due to financial and accommodation constraints.The UK Home Office has confirmed that any foreign students or professionals on visas that had expired or expiring would be given an extension at least until May 31. Many of the stranded students from different parts of India -- including Kerala, Tamil Nadu, Telangana, Maharashtra and Uttarakhand -- expressed their relief at the visa extension, but they remain concerned about the limited resources at their disposal in the face of mounting accommodation and essentials costs.Besides, many are exposed to greater risk of contracting COVID-19 due to being crammed into packed hostels with shared kitchen and bathroom facilities during the current lockdown imposed in the UK.The High Commission urged these Indian nationals to remain calm and follow travel advisories and updates as the lockdown and travel restrictions in India now go into place until May 3. AK SCYSCY

Indian diaspora groups in UK urge patience amid COVID-19 lockdown

India continues to be the largest country of origin of international migrants with a 17.5 million-strong diaspora across the world, and it received the highest remittance of USD 78.6 billion from Indians living abroad, the UN migration agency said. The International Organisation for Migration said in its 'Global Migration Report 2020' that the number of international migrants in 2019 is now estimated at 270 million and the top destination remains the US, at nearly 51 million. In its latest global report, the IOM noted that the overall figure represents just a tiny fraction of the world's population, although it is a 0.1 per cent increase on the level indicated in its last report, published two years ago. "This figure remains a very small percentage of the world's population (at 3.5 per cent), meaning that the vast majority of people globally (96.5 per cent) are estimated to be residing in the country in which they were born," IOM's Global Migration Report 2020 said. According to the UN agency, more than half of all international migrants (141 million) live in Europe and North America. An estimated 52 per cent are male, and nearly two-thirds of all migrants are looking for work; that's around 164 million people. India continued to be the largest country of origin of international migrants. It had the largest number of migrants living abroad (17.5 million), followed by <keyword id="3746" type="LOCATION" weightage="20" keywordseo="Mexico">Mexico</keyword> (11.8 million) and <keyword id="1334" type="LOCATION" weightage="20" keywordseo="China">China</keyword> (10.7 million). The top destination country remained the United States (50.7 million international migrants). The report also noted that international remittances increased to USD 689 billion in 2018. The top three remittance recipients were India (USD 78.6 billion), China (USD 67.4 billion) and Mexico (USD 35.7 billion). The United States remained the top remittance-sending country (USD 68.0 billion) followed by the United Arab Emirates (USD 44.4 billion) and <keyword id="50996" type="LOCATION" weightage="20" keywordseo="Saudi-Arabia">Saudi Arabia</keyword> (USD 36.1 billion). Although most migrants travelled to the US, the report confirmed other important migration corridors from poorer countries to richer nations such as those to France, <keyword id="6358826" type="LOCATION" weightage="20" keywordseo="Russia">Russia</keyword>, the United Arab Emirates and Saudi Arabia. "This pattern is likely to remain the same for many years into the future, especially as populations in some developing subregions and countries are projected to increase in coming decades, placing migration pressure on future generations", IOM said. In Africa, Asia and Europe, most international migrants stay within their regions of birth, but the majority of migrants from Latin America and the Caribbean and North America do not. Focusing on the Middle East, data showed that Gulf countries have some of the largest numbers of temporary labour migrants in the world, including the United Arab Emirates, where they make up almost 90 per cent of the population. Highlighting how ongoing conflicts and violence in Central African Republic, the Democratic Republic of the Congo (DRC), Myanmar, <keyword id="294553" type="LOCATION" weightage="20" keywordseo="South-Sudan">South Sudan</keyword>, Syria and <keyword id="44789" type="LOCATION" weightage="20" keywordseo="Yemen">Yemen</keyword> have led to massive internal displacement in the last two years, IOM's Internal Displacement Monitoring Centre said that a total of 41.3 million people were forced to flee their homes at the end of 2018 - a record since monitoring began in 1998. Syria has the highest internally population of displaced people, at 6.1 million, followed by Colombia (5.8 million) and the Congo (3.1 million). After nearly nine years of conflict, Syria is also the top refugee-originating country, at well over six million - dwarfing <keyword id="6354541" type="LOCATION" weightage="20" keywordseo="afghanistan">Afghanistan</keyword> (at around 2.5 million) - out of a total of nearly 26 million. Finally, turning to the impact of climate and weather disasters, the report notes that Typhoon Mangkhut in the Philippines contributed to the fact that 3.8 million people were newly displaced there at the end of 2018, the largest number globally. YAS AMS AKJ AMS

At 17.5 million, Indian diaspora largest in the world : UN report

<ul><li>As many as 17.5 million international <keyword id="64839" type="PERSON" weightage="20" keywordseo="Migrants">migrants</keyword> -- so far the largest -- have Indian origin, says <keyword id="6355833" type="ORGANIZATION" weightage="20" keywordseo="united-nations">United Nations</keyword>. </li><li>One-third of the total international migrants are living in 10 countries, with <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> placed at position one for country of origin of international migrants. </li><li>The number of migrants is growing at a faster pace than the world population. </li></ul>The highest number of international migrants are of Indian origin, at 17.5 million, says a report by the United Nations. The report also says that the number of migrants is growing at a faster pace than the world population. A third of the total international migrants are living in 10 countries, with India at the numero uno position one as the country of origin of these migrants. According to the <keyword id="6355835" type="ORGANIZATION" weightage="20" keywordseo="un">UN</keyword>, Europe hosts the highest share of international migrants at 82 million. This is followed by North America which has 59 million migrants. Migrants account for 3.5% of the world's population The world currently has as many as 272 million migrants. Their numbers are also growing at a rate higher than the world population. In the last nine years (2010-2019), the world added 51 million migrants, registering a 23% increase. Declining number of international migrants in India Though the number of Indians living abroad is increasing, migrants who are coming into the country are decreasing. India hosted 5.1 million of migrants in 2019, which is less than 7.5 million in 1990. India hosts only 0.4% share of the international migrant population from 2010 to 2019.

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At 17.5 million, Indian diaspora largest in the world : UN report

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The largest number of international migrants are Indians: UN

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